On September 30, Mr. Nguyen Hoang Anh - Member of the Party Central Committee, Chairman of the State Capital Management Committee at Enterprises (Committee) worked with VRG on the implementation of the 2024 plan, orientation for building the 2025 plan in conjunction with the medium-term plan tasks until the end of 2025.
Mr. Nguyen Hoang Anh - Member of the Party Central Committee, Chairman of the State Capital Management Committee at Enterprises gave a speech at the meeting. Speaking at the meeting, Mr. Nguyen Hoang Anh - Member of the Party Central Committee, Chairman of the State Capital Management Committee at Enterprises acknowledged and highly appreciated the efforts of VRG. With a very wide area of operation, spanning across the country and into Laos and Cambodia, VRG has affirmed itself as a strong economic group in agricultural activities. "In the coming time, VRG will focus on developing drastic solutions, concentrating all resources to effectively implement the production and business plan, continuing to operate effectively to contribute to the economic development of the country. In particular, the Group needs to promote land resources, gray land... with appropriate calculations according to practical conditions to maximize operational efficiency in all fields. Continue to promote results in improving the quality of corporate governance in an advanced, modern direction, in accordance with international practices and standards..." - Mr. Nguyen Hoang Anh, directed.
Exceeding the assigned plan Reporting at the meeting, Mr. Le Thanh Hung - Deputy Secretary of the Party Committee, General Director of VRG, said that the Group implemented the tasks in 2024 in the context of the gradual recovery of the macro economy, and the policy mechanisms for implementing investment were gradually cleared. Based on the assessment and proactive analysis and forecast of the situation, the Group has proposed proactive, drastic and synchronous solutions to achieve the highest target of completing the 2024 plan. In the first 6 months of the year, due to objective factors of climate change, especially prolonged drought, which greatly affected the latex harvest output and the local labor shortage in some areas and prices, input costs for production continuously increased, so the Group's production and business activities in the first half of the year had difficulties when production and business targets were not much higher than the same period in 2023.
Mr. Tran Cong Kha - Party Secretary, Chairman of the Board of Directors of VRG spoke at the meeting Entering the third quarter, when rubber has entered the main exploitation season of the year, plus the rubber price trend has shown signs of recovery more positively than the forecast plan due to the unusual decline in weak supply in the main producing countries in Southeast Asia such as Thailand, Indonesia and increased demand from the two countries China and India, the main and core production and business activities in the rubber sector of the Group have many advantages. However, in 2024, other fields besides rubber in 2024 will be very difficult because the world situation is still complicated and unpredictable with many geopolitical instabilities, escalating military conflicts in some countries and regions, causing instability and disrupting the supply chain in some products and industries in which the Group is operating. Implementing the plan for the first 9 months of 2024, consolidated revenue and other income reached VND 16,207 billion (equal to 64.83% of the plan), consolidated pre-tax profit reached VND 2,850 billion (equal to 69.44% of the plan), consolidated after-tax profit reached VND 2,386 billion (equal to 69.44% of the plan). It is estimated that for the whole year of 2024, consolidated revenue and other income will reach VND 26,307 billion (equal to 105.23% of the plan), consolidated pre-tax profit will reach VND 4,450 billion (equal to 108.43% of the plan), consolidated after-tax profit will reach VND 3,746 billion (equal to 108.99% of the plan). With the achieved results, the Group has completed and exceeded the production and business plan agreed by the Committee and assigned by the General Meeting of Shareholders. At the parent company - Group, in the first 9 months of 2024, revenue and other income reached VND 2,413 billion (equal to 60.51% of the plan); pre-tax profit/after-tax profit was VND 1,011 billion (equal to 69.53% of the plan). Estimated for the whole year of 2024, revenue and other income will be VND 4,287 billion (equal to 107.5% of the plan), pre-tax profit/after-tax profit is estimated at VND 1,670 billion (equal to 114.87% of the plan).
Mr. Le Thanh Hung - Deputy Secretary of the Party Committee, General Director of VRG reported at the meeting on Ensuring the implementation of the plan for the period 2021 - 2025 Regarding the orientation of building the plan for 2025, the world and domestic socio-economic situation is forecasted to continue to develop rapidly, complicatedly and unpredictably; the world economy continues to face many difficulties and challenges. Economic growth and consumer demand in many major economies are recovering slowly; inflation in some countries in the world; fluctuations in world commodity prices (gasoline, gold, etc.), natural disasters, epidemics, climate change, etc. are unpredictable. In that context, based on assessment, analysis, research, and identification of opportunities, advantages, challenges, and risks, the Group builds plans and implements development goals for 2025 in accordance with the actual situation. At the same time, strive to complete ahead of schedule the medium-term plan targets agreed upon by the Committee and assigned by the Annual General Meeting of Shareholders in conjunction with the targets of the Group Party Congress for the 2020-2025 term.
Mr. Nguyen Canh Toan - Vice Chairman of the State Capital Management Committee at Enterprises spoke at the meeting. Accordingly, the consolidated production and business targets of the whole Group in 2025, of which revenue and other income are about 27,490 billion VND/2024 implementation is 26,307 billion VND (equal to 110% of the plan for 2024 and equal to 104.5% of the implementation of 2024); Consolidated pre-tax profit reached VND 4,632 billion/2024 implementation was VND 4,450 billion (equal to 113% of the 2024 plan and 104.10% of the 2024 implementation) and consolidated after-tax profit of VND 3,900 billion/2024 implementation was VND 3,746 billion (equal to 113.5% of the 2024 plan and 104.1% of the 2024 implementation). At the parent company - Group, the revenue and other income plan of VND 4,424 billion/2024 implementation was VND 4,287 billion (equal to 111% of the 2024 plan and 103.2% of the 2024 implementation); Pre-tax/after-tax profit of VND 1,720 billion/2024 implementation is VND 1,670 billion (equal to 118% of the 2024 plan and 103% of the 2024 implementation). Regarding the medium-term plan for the period 2021 - 2025, with the results of implementation in 2021, 2022, 2023, estimated implementation in 2024 and the plan for 2025, ensuring that the Group exceeds the targets of the plan for the period 2021 - 2025 agreed by the Committee, assigned by the General Meeting of Shareholders and ensures the implementation of the Resolution of the Party Congress of the Group for the term 2020 - 2025. "In addition to traditional production and business fields, the Group will continue to expand investment fields outside of rubber according to the development strategy to 2030 and vision to 2035 approved by the Committee, including high-tech agriculture and renewable energy in addition to hydropower. Continue to implement strategies and solutions on green growth and sustainable development; In particular, focusing on completing the production of goods that meet the requirements of the European Union (EUDR) to bring high brand value and economic value. Strengthening the role and responsibility of business leaders, capital representatives, and controllers assigned by the Group to participate in member units in implementing plans, managing and using capital, assets, and land effectively and in accordance with State regulations; implementing the work of preventing and combating corruption and negativity, strengthening thrift and combating waste in production, business, and investment activities according to the policies of the Party and the State..." - General Director of VRG, said.
Meeting scene Speaking at the meeting, Mr. Nguyen Canh Toan - Vice Chairman of the State Capital Management Committee at Enterprises requested VRG to direct its member units to base on the cost plan (maximum cost limit/ton of rubber latex exploited, processed, consumed) assigned by the Group to implement in a thrifty and effective manner. This will be the legal indicator to classify enterprises and evaluate managers according to regulations. "In addition, VRG needs to monitor and supervise the implementation and financial settlement of 2024 at member companies to ensure that the separate and consolidated production and business results of the parent company - the Group exceed the plan agreed by the Committee and assigned by the Annual General Meeting of Shareholders. The results of 2024 are an important basis for building a 2025 plan for appropriate growth, ensuring the Group's growth and sustainable development goals for the period 2026 - 2030. VRG also needs to urgently coordinate with the Department of Agriculture to review and adjust the charter capital for member units in accordance with the needs and conditions of each unit to regulate resources throughout the Group." - Mr. Nguyen Canh Toan emphasized.
The delegation of the State Capital Management Committee at Enterprises and VRG took a souvenir photo at the working session. Source: https://vnrubbergroup.com/tin-tuc/VRG-am-bao-muc-tieu-tang-truong-va-phat-trien-ben-vung
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